TEAM

Tom Frese

2003 - 2004

Summary

AquaSol, Inc. performed an appraisal of several aquaculture assets for the largest shrimp farming company in Belize. A site analysis and a feasibility study for a potential Tilapia farming venture were performed and an assessment of a non-operational shrimp farm was conducted.

Nova Toledo Freshwater was a non-operational fish farm property held as a non-performing asset of Nova Toledo Ltd. and Bluecadia Aquaculture, Inc. The total acreage of the sites was estimated at 2,139 acres. The Swasey Branch of the Monkey River was the principal source of water for the dormant farm.

Status

At the time, Bluecadia had several different opportunities with regard to the reinvestment of earnings: reinvest in existing shrimp farming operations, acquire the old Laguna Madre shrimp farm and restart this operation, diversify geographically away from Belize, or invest in the old Toledo freshwater site. The original design of the old Toledo freshwater site did not favor a simple restart without major design modifications, which negatively impacted the profit potential of this particular investment alternative. In the end, a decision was made to reinvest funds back into the existing shrimp farming operations of Bluecadia; a decision that was made prior to Bluecadia ceasing operations completely in 2007 and entering receivership.